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HKMA Appointment

The Hong Kong Monetary Authority (HKMA) announced today (Friday) that the Financial Secretary, following the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the appointment of Mr Arthur Yuen as Deputy Chief Executive responsible for banking stability. The appointment takes effect on 1 January 2010, following the retirement of Mr Y. K. Choi, who has served as Deputy Chief Executive responsible for banking stability since September 2007, and, from 2005 to 2007, as Deputy Chief Executive responsible for monetary management, financial infrastructure, reserves management, and strategy and risk issues.

Mr Yuen, who is currently Executive Director of the External Department, joined the HKMA as a Division Head in 1996 and was promoted to Executive Director in 2004. He has extensive experience of banking matters, having previously served in the Banking Development and Banking Supervision Departments. Before joining the HKMA he worked as a Senior Manager with the Securities and Futures Commission, and, before that, as an Administrative Officer with the Hong Kong Government.

Commenting on Mr Choi's forthcoming retirement from the HKMA, the Chief Executive of the HKMA, Mr Joseph Yam, paid tribute to the contribution made by Mr Choi. "Y. K. has had a long and distinguished career at the HKMA and, before that, with the Office of the Commissioner for Banking, which he joined in 1974. During his term as Deputy Chief Executive, Y. K. has had to deal with the effects of the worst global financial crisis in many years. It is very much as a result of his efforts, both during the crisis and over many years before it, that Hong Kong's banking sector has come through this difficult time in such a robust condition. All colleagues and friends at the HKMA join me in wishing him every happiness in his retirement," Mr Yam said.

For further enquiries, please contact:
Thomas Chan, Communications Chief, at 2878 1480 or
Natalie Wu, Officer (Communications), at 2878 8246

Hong Kong Monetary Authority
14 August 2009

Last revision date: 1 August 2011
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